- Effective Yield of up to 10.46 % per annum*
- Credit Rating: CRISIL A+/Stable by CRISIL Ratings Limited
- Trading in dematerialized form only
- Allotment, in consultation with BSE Limited (the “Designated Stock Exchange”), shall be made on the basis of the date of upload of the application into the electronic book of BSE Limited. However, on the date of oversubscription and thereafter, the allotment shall be made to the applicants on a proportionate basis***
Edelweiss Financial Services Limited (“EFSL”/ “Company”), has announced the opening of the public issue of Secured Redeemable Non-Convertible Debentures (“NCDs”) of the face value of ₹ 1,000 each for an amount up to ₹ 1,000 million (“Base Issue Size”), with a green shoe option of up to ₹ 1,000 million, cumulatively aggregating up to ₹ 2,000 million (“Issue”).
There are twelve series of NCDs carrying fixed coupons and having a tenure of 24 months, 36 months, 60 months, and 120 months with annual, monthly, and cumulative interest options. Effective annual yield for NCDs ranges from 9.00% p.a. to 10.46% p.a.
The Issue is scheduled to open on April 08, 2024, and close on April 23, 2024**
At least 75% of the funds raised through this Issue will be used for the purpose of repayment/prepayment of interest and principal of existing borrowings of the Company and the balance amount would be utilized for general corporate purposes, subject to such utilization not exceeding 25% of the amount raised in the Issue, in compliance with the Securities and Exchange Board of India (Issue And Listing of Non-Convertible Securities) Regulations, 2021, as amended from time to time (“SEBI NCS Regulations”).
The NCDs proposed to be issued under the Issue have been rated “CRISIL A+/Stable (pronounced as CRISIL A plus rating with Stable outlook)”.
Trust Investment Advisors Private Limited and Nuvama Wealth Management Limited# are the Lead Managers to the Issue. The NCDs will be listed on BSE Limited to provide liquidity to the investors.
# Nuvama Wealth Management Limited is deemed to be an associate of the Issuer, as per the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992, as amended (Merchant Bankers Regulations). Further, in compliance with the provisions of Regulation 21A and explanation to Regulation 21A of the Merchant Bankers Regulations, Nuvama Wealth Management Limited would be involved only in marketing of the Issue and as per Regulation 25 (3) of SEBI NCS Regulations and shall not issue a due diligence certificate.
